Source BioScience gets potential 18p a share offer
Shares in Source BioScience are up more than 15% after it received a potential but firm 18p a share cash offer from Continental Investment Partners SA and Harwood Capital LLC.
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The potential offer was, subject to due diligence, expected to include an unlisted securities alternative, Source BioScience said.
An 18p a share tilt would represent a premium of about 21% to the closing mid-market price of Source BioScience's shares on Thursday. Today they are up 15.13% to 17.12p.
Certain clients advised by Continental hold 25.46m shares in Source BioScience, representing about 7.29% of that company's issued capital. Funds managed or advised by Harwood hold 82.5m shares, or about 23.62%.